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Section: Business News - The Thai property firm Pace Development and its Israeli investment partner, Industrial Buildings Corporation, plan to sell their two joint ventures into property funds worth 5 billion baht to raise funds for future investment, the Bangkok Post reports.
The two joint-venture firms hold the hotel and retail assets of MahaNakhon, a luxury mixed-use project located on a nine-rai leasehold site near the Chong Nonsi BTS station in Bangkok, said Sorapoj Techakraisri, chief executive of Pace.
The 77-storey, 310-metre property will become Thailand's tallest building, surpassing the Baiyoke Tower in Pratunam by six metres.
Pace Development …